Monster Beverage (NASDAQ:MNST) Price Target Raised to $60.00

Monster Beverage (NASDAQ:MNST) had its target price increased by JPMorgan Chase & Co. from $53.00 to $60.00 in a research note issued to investors on Friday morning, Marketbeat.com reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $59.00 price target on shares of Monster Beverage in a research note on Wednesday, January 22nd. Truist Financial upped their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the company a “sell” rating in a research report on Wednesday, April 23rd. Citigroup lifted their price target on shares of Monster Beverage from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 14th. Morgan Stanley increased their price objective on Monster Beverage from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Monster Beverage in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $58.78.

Monster Beverage Trading Up 0.9 %

Shares of Monster Beverage stock opened at $60.05 on Friday. The firm’s 50 day moving average is $57.19 and its 200 day moving average is $53.72. The firm has a market capitalization of $58.56 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 2.28 and a beta of 0.63. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $60.34. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. Equities research analysts forecast that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.27, for a total transaction of $552,700.00. Following the transaction, the chief financial officer now directly owns 72,273 shares of the company’s stock, valued at $3,994,528.71. This represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Emelie Tirre sold 91,316 shares of Monster Beverage stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the completion of the sale, the insider now directly owns 76,201 shares of the company’s stock, valued at approximately $4,220,011.38. The trade was a 54.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,316 shares of company stock valued at $11,484,440 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. lifted its position in Monster Beverage by 62.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock valued at $28,000 after acquiring an additional 203 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Monster Beverage by 1.5% in the fourth quarter. Bleakley Financial Group LLC now owns 13,578 shares of the company’s stock valued at $714,000 after purchasing an additional 203 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in Monster Beverage by 3.1% during the fourth quarter. CWA Asset Management Group LLC now owns 6,991 shares of the company’s stock worth $367,000 after buying an additional 213 shares in the last quarter. CreativeOne Wealth LLC raised its position in Monster Beverage by 1.9% in the 4th quarter. CreativeOne Wealth LLC now owns 11,838 shares of the company’s stock valued at $622,000 after buying an additional 217 shares during the last quarter. Finally, Conning Inc. lifted its stake in Monster Beverage by 3.9% during the 1st quarter. Conning Inc. now owns 5,853 shares of the company’s stock valued at $343,000 after acquiring an additional 219 shares in the last quarter. 72.36% of the stock is owned by institutional investors.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.